CareTrust REIT (NYSE:CTRE) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

CareTrust REIT (NYSE:CTRE) had its target price upped by analysts at Wells Fargo & Company from $42.00 to $47.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 18.06% from the stock’s previous close.

Several other equities analysts have also recently weighed in on CTRE. Royal Bank Of Canada raised their price objective on CareTrust REIT from $41.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Weiss Ratings downgraded shares of CareTrust REIT from a “buy (a)” rating to a “buy (a-)” rating in a report on Tuesday, May 26th. Mizuho set a $45.00 price target on shares of CareTrust REIT in a research report on Friday, May 22nd. UBS Group upped their price objective on shares of CareTrust REIT from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Finally, Zacks Research raised shares of CareTrust REIT from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, CareTrust REIT currently has a consensus rating of “Buy” and an average price target of $44.09.

CareTrust REIT Stock Down 2.5%

Shares of NYSE:CTRE traded down $1.01 during mid-day trading on Monday, hitting $39.81. 252,820 shares of the company traded hands, compared to its average volume of 2,473,722. The stock has a market cap of $9.40 billion, a P/E ratio of 25.54, a P/E/G ratio of 1.85 and a beta of 0.76. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22. CareTrust REIT has a 12-month low of $27.81 and a 12-month high of $43.08. The stock has a 50-day moving average price of $39.39 and a two-hundred day moving average price of $38.39.

Hedge Funds Weigh In On CareTrust REIT

Several institutional investors have recently bought and sold shares of CTRE. Kemnay Advisory Services Inc. bought a new position in CareTrust REIT during the fourth quarter valued at $27,000. Transamerica Financial Advisors LLC raised its stake in shares of CareTrust REIT by 520.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 868 shares of the company’s stock valued at $32,000 after buying an additional 728 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of CareTrust REIT by 134.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $34,000 after buying an additional 644 shares during the last quarter. Heritage Wealth Advisors grew its stake in shares of CareTrust REIT by 42.9% during the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares during the period. Finally, Allworth Financial LP grew its stake in shares of CareTrust REIT by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,042 shares of the company’s stock worth $36,000 after acquiring an additional 555 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

CareTrust REIT Company Profile

CareTrust REIT, Inc is a real estate investment trust based in Deerfield Beach, Florida, specializing in the ownership, acquisition and management of net-leased healthcare properties. The company primarily focuses on seniors housing and post-acute care facilities, entering into long-term, triple-net lease agreements with leading operators in the skilled nursing, assisted living, memory care, inpatient rehabilitation and specialty hospital sectors. Through its portfolio, CareTrust REIT aims to provide investors with stable and predictable rental income while supporting the ongoing demand for quality healthcare real estate across the United States.

Since its initial public offering in September 2013, CareTrust REIT has pursued a disciplined acquisition strategy, targeting properties in primary and select secondary markets.